Whistleblowing for Dummies

In the last several months I’ve been posting my opinions about the Department of Justice, former Attorney General Eric Holder and numerous other thoughts about whistleblowing and the 2008 financial debacle; as well as my concerns that Citi and the Too Big To Fail Banks are now heading in the same direction that landed us in the financial mess we are in. So it’s no surprise that the market is now offering even more guides to catching your company doing something wrong.

My eyebrows went up when Eric Holder– then Attorney General ,announced that the Department of Justicewas encouraging whistleblowers to come forth regarding fraud and wrongdoing in their companies to encourage their voice when they see situations that lead to fraud, saying, “their evidence is critical to the work of investigators”.

I was amazed at the rewards being offered by the D.O.J .and skeptical re their claim encouraging whistleblowers.Regardless of what Holder stated, to date the evidence shows that it’s the whistleblowers themselves who are the most persecuted. I am also amazed and maybe a bitdismayed about the new books coming out on the market, providing everyday citizens guidance on how to blow the whistle should they perceive the need to.

TheAmazon description says, Do you suspect that your employer is skirting safety or environmental rules, cheating on taxes, violating government contracts, committing financial fraud, or breaking the law? That your boss is a crook? Welcome to the ranks of the close to 50 percent of American workers who have witnessed fraud or misconduct at work—about half of whom take initial steps to “do the right thing” by reporting it.

Few get far. Despite a revolutionary spate of laws in recent years that not only protect whistleblowers but also provide for large monetary rewards, the legislative labyrinth remains daunting. All too often this means silence, lost court cases, damaged careers, and a failure to effect real change.

I applaud Mr. Kohn and he is right. Few do get far; few are successful in causing real change. Sherry Hunt, I and dozens others are the fallout from reporting whistleblowing. Yet regardless of the encouragement of the D.O.J and books like Mr. Kohn’s notwithstanding, there is a better way. And that is, business need s to do the right thing. What do businesses like Southwest Airlines, Container Store, Toyota, Trader Joes, Zappos and countless others have in common?

A culture that is people centered. Openness is valued. Cultures of trust are created. The best doesn’t need D.O.J. incentives or whistleblowing guides read under the table.

Are companies today too naïve or too arrogant to even think their employees don’t see what is going on when there is a blatant bending of the rules? Are we so wound up in profits at all costs and quarterly reviews that we have lost sight of the purpose of business? Yes it is to make a profit and to benefit consumer’s. But a profit at all costs? Is that what capitalism truly is?

Let me ask you- at the end of the day how do you feel about the work you’ve done, about the purpose and mission of your accomplishments? About the company’s mission and the contribution you’ve made to it? If you’re proud of your company and its purpose and the contribution you make, chances are your company is one of the many, and yes there are many that are doing it right- not fraudulently.

But- hey- if your company is not doing it right- get up, stand up- take the right steps- read the books.

I’m for T-shirts, which say stamp out whistleblowing- because we’ve made the need to do so obsolete.

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Richard Bowen is widely known as the Citigroup whistleblower. As Business Chief Underwriter for Citigroup during the housing bubble financial crisis meltdown, he repeatedly warned Citi executive management and the board about fraudulent behavior within the organization. The company certified poor mortgages as quality mortgages and sold them to Fannie Mae, Freddie Mac and other investors.

What People Are Saying About Richard M. Bowen

"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst."

~ William D. Cohan, NY Times Best Selling Author

2017-06-30T10:08:59+00:00

"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst." ~ William D. Cohan, NY Times Best Selling Author

http://www.richardmbowen.com/testimonials/2556/

"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger."

~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual

2015-02-13T19:51:19+00:00

"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger." ~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual

http://www.richardmbowen.com/testimonials/711/

"Richard Bowen, you are a star and a hero."

~ Ben Stein, Economist and Political Commentator

2015-02-13T19:50:26+00:00

"Richard Bowen, you are a star and a hero." ~ Ben Stein, Economist and Political Commentator

http://www.richardmbowen.com/testimonials/712/

"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving. The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership."

"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving. The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership." ~ Jim Farrell, Program Chairman, Dallas Chapter, Financial Executives International

http://www.richardmbowen.com/testimonials/532/

"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years."

~ Dennis McCuistion, Host of the McCuistion TV program

2014-12-28T19:48:06+00:00

"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years." ~ Dennis McCuistion, Host of the McCuistion TV program

http://www.richardmbowen.com/testimonials/533/

"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!"

~ Betty Garrett, Garrett Speakers International

2014-12-28T19:47:50+00:00

"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!" ~ Betty Garrett, Garrett Speakers International

http://www.richardmbowen.com/testimonials/531/

"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences."

~ Fred Timmons, Chairman of The Texas Society of CPA's

2014-12-28T19:47:22+00:00

"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences." ~ Fred Timmons, Chairman of The Texas Society of CPA's